Protection + Risk Review Case Study

Protection + Risk Review Case Study

Understanding what level of protection benefits ensure the maintenance of an existing lifestyle can be difficult.

Challenges

The client wished to understand what level of protection benefits they would require to ensure their family’s lifestyle can be protected in the event of a catastrophe.

The client wished to consider a course of action that balances affordability with the need for adequate protection.

The client wished to ensure benefits continue for at least the years of children’s dependence.

Solution

After reviewing the client’s circumstances, we provided a detailed report & recommendations outlining the most appropriate course of action.

We recommended a lump sum benefit to provide for a rainy day fund, funeral expenses, start in life gift for children and to allow short term debts to be cleared. We also included a monthly income benefit payable to the family that would allow the current lifestyle to be maintained.

Within our recommendations, we priced different options taking account of affordability.

Results

The client gained peace of mind in knowing that their family’s lifestyle was protected.

The client now knows exactly why a specific level of benefits is required.

The client understands how the protection is structured from an estate planning perspective to ensure timely payment of benefits.